Department of Numbers

Monroe Louisiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Monroe, LA (the Monroe metro area) was $700 in 2016 according to the Census ACS survey.1 Average gross rent in Monroe was $609 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Monroe median and average rent data will be released in September of 2018.

Data is also available below for Monroe rental vacancy rates, Monroe rent as a percent of median income and the fraction of renters in Monroe.

Show dollars as: Nominal Real

Real Gross Rent in Monroe Louisiana (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Louisiana Median Gross Rent $808 -0.25% +5.35%
Monroe, LA Median Gross Rent $700 -0.85% +3.86%

Monroe, LA Real Gross Rent Trends

Median gross rent for Monroe peaked in real terms in 2015 at $706 and is now $6 (0.85%) lower. Average gross rent for Monroe peaked in real terms in 2010 at $665 and is now $56 (8.42%) lower. From a recent low of 570.0 in 2012, real average gross rent has now increased by $39 (6.84%).

Real Gross Rent in Monroe: Monroe LA Median, Monroe LA Average, Louisiana Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Monroe

Date US
Median
Louisiana
Median
Monroe, LA
Median
Monroe, LA
Average
2016 $981 $808 $700 $609
2015 $972 $810 $706 $634
2014 $942 $808 $693 $607
2013 $910 $767 $674 $628
2012 $898 $759 $616 $570
2011 $898 $771 $661 $633
2010 $912 $785 $701 $665
2009 $916 $778 $619 $594
2008 $932 $789 $668 $611
2007 $885 $730 $617 $571
2006 $895 $725 $678 $637
2005 $869 $679 $648 $579

Monroe Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Monroe Louisiana was 11.24% according to Census ACS data.

Rental Vacancy Rate in Monroe Louisiana

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Louisiana 8.44% +0.14% +0.80%
Monroe, LA 11.24% +1.43% +1.76%

Trends in Monroe, LA Rental Vacancy Rate

The rental vacancy rate in Monroe peaked in 2005 at 15.60%. Since then it has fallen by 4.36% to 11.24%. Data records for this series originated in 2005. From a 2014 post peak low of 4.00%, the rental vacancy rate has increased by 7.24%.

Rental Vacancy Rate: Monroe LA, Louisiana, US

Rental vacancy rate in Louisiana

Historical Rental Vacancy Rate data for Monroe

Date US Louisiana Monroe, LA
2016 5.89% 8.44% 11.24%
2015 5.85% 8.30% 9.81%
2014 6.32% 8.36% 4.00%
2013 6.49% 7.64% 9.48%
2012 6.77% 8.55% 8.12%
2011 7.40% 8.15% 7.88%
2010 8.17% 8.98% 10.09%
2009 8.43% 8.19% 5.62%
2008 7.86% 8.20% 10.18%
2007 7.87% 7.18% 13.57%
2006 7.70% 6.36%
2005 7.74% 7.89% 15.60%

Rent as a Fraction of Income

Using median household income data for Monroe, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Monroe, median monthly gross rent as a fraction of median household income was 22.10% in 2016 according to the ACS.

Monroe Louisiana Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Louisiana 21.48% +0.48% +0.75%
Monroe, LA 22.10% -0.91% +0.68%

Trends in Monroe, LA Rent as a Fraction of Income

The fraction of median Monroe household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 23.01%. Since then it has fallen by 0.91% to 22.10%.

Fraction of Income towards Rent: Monroe LA, Louisiana, US

Percent of median household income going towards median monthly gross rent in Monroe Louisiana

Historical Data for Annual Rent as a Fraction of Income in Monroe Louisiana

Date US Louisiana Monroe, LA
2016 20.43% 21.48% 22.10%
2015 20.63% 20.99% 23.01%
2014 20.89% 21.57% 20.02%
2013 20.78% 20.73% 21.42%
2012 20.65% 20.87% 20.89%
2011 20.70% 21.48% 22.60%
2010 20.50% 20.78% 20.85%
2009 20.12% 20.19% 18.06%
2008 19.00% 19.15% 18.60%
2007 18.66% 19.09% 18.10%
2006 18.90% 18.85% 19.66%
2005 18.89% 18.59% 19.00%

Renter Fraction in Monroe Louisiana

You can calculate the renter fraction in Monroe in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Monroe as a fraction of total Monroe households. In 2016 40.60% of households were renters according to Census ACS data.

Monroe Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Louisiana 35.74% +0.32% +1.71%
Monroe, LA 40.60% +2.15% +3.83%

Trends in the Monroe, LA Renter Fraction

The Monroe household renter fraction peaked in in 2011 at 40.94% and is now 0.34% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Monroe LA, Louisiana, US

Fraction of renters in Monroe

History of Monroe Renter Fraction

Date US Louisiana Monroe, LA
2016 36.88% 35.74% 40.60%
2015 36.97% 35.42% 38.45%
2014 36.90% 35.58% 36.64%
2013 36.50% 34.03% 36.77%
2012 36.09% 34.27% 37.59%
2011 35.42% 33.57% 40.94%
2010 34.65% 32.45% 36.84%
2009 34.13% 32.08% 35.98%
2008 33.36% 31.46% 36.34%
2007 32.80% 32.06% 33.98%
2006 32.73% 31.52% 33.64%
2005 33.10% 32.19% 35.73%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.